What an idiot!!

DividedNation

So the pound had crashed following Brexit.

So what does the governor of the bank of England do?

He makes it fall further by cutting interest rates!!

Yes he made the country EVEN POORER!!!

WHY???

Will making things cost more stimulate the economy?

NO!!

Fact is the banks and big financial institution are trying to destroy the UK because it voted
for freedom.

And he is printing more money too.:mad:

DividedNation

I should add he has been wrong everything he has forecast.

cells

The BOE does not act for one special interest group (those who dearly want higher interest rates to cause a house price crash). Their role is for price stability and to try and keep full employment neither of which is hurt by this action

westernpromise

He hasn't made me poorer. He's made me £720 a year better off and the value of my US investments has gone up £3,000 just on the forex element.

The economy is far from fixed; we are a submarine that in 2010 was plunging to unimaginable depths and the pressure hull felt ready to give way. We have levelled out and aren't sinking any deeper but the pressure hull is still groaning ominously and the surface is a long way up.

DividedNation

cells wrote: »

The BOE does not act for one special interest group (those who dearly want higher interest rates to cause a house price crash). Their role is for price stability and to try and keep full employment neither of which is hurt by this action

Yes it does it acts for the 1% away has done that is why it purposely creates inflation because that transfers money from the poorest to the richest, same goes for QE.

How is making goods dearer keeping full employment?

How does making people poorer help employment?

IF he want to created employment give him hammer and he can break rocks in the back yard of the BoE, that should keep him harmlessly employed for years.

How is trashing the pound creating price stability?

He put an extra 1.5% on on inflation on top of the 18% already in line.


How is making savers poorer helping employment?

DividedNation

westernpromise wrote: »

He hasn't made me poorer. He's made me £720 a year better off and the value of my US investments has gone up £3,000 just on the forex element.

The economy is far from fixed; we are a submarine that in 2010 was plunging to unimaginable depths and the pressure hull felt ready to give way. We have levelled out and aren't sinking any deeper but the pressure hull is still groaning ominously and the surface is a long way up.

he has knocked 20% off the value of your cash savings, home and pension, if you think you are better off you need to got back to school.

Your US investments are not worth a penny more.

westernpromise

DividedNation wrote: »

he has knocked 20% off the value of your cash savings, home and pension, if you think you are better off you need to got back to school.

Your US investments are not worth a penny more.

Sorry, you've lost me completely.

Filo25

Sterling was about $1.50 after the polls closed on Brexit night.

It was about $1.33 before the BoE cut today,

It's at about $1.31 today the last time I looked.

I suppose the point I'm making is that you can't really blame Carney for the majority of the fall in Sterling's value since we voted for Brexit.

The collapse in the value of Sterling is the one thing that pretty much everyone agreed would be an inevitable response of Brexit.

cells

DividedNation wrote: »

Yes it does it acts for the 1% away has done that is why it purposely creates inflation because that transfers money from the poorest to the richest, same goes for QE.

How is making goods dearer keeping full employment?

How does making people poorer help employment?

IF he want to created employment give him hammer and he can break rocks in the back yard of the BoE, that should keep him harmlessly employed for years.

How is trashing the pound creating price stability?

He put an extra 1.5% on on inflation on top of the 18% already in line.


How is making savers poorer helping employment?

all well and good you can believe anything you want and postulate this and that theory but how do you explain the current economic situation where in the UK long term (12 months or more) unemployment is only 1%?

somethings being done right

Filo25

cells wrote: »

all well and good you can believe anything you want and postulate this and that theory but how do you explain the current economic situation where in the UK long term (12 months or more) unemployment is only 1%?

somethings being done right

The concern thought for the UK is that the decent (but not outstanding) growth seen over the last few years has only been able to be achieved by having monetary policy pretty close to as loose as it can be.

We now find ourselves in the situation where we have a self incflicted slowdown starting in the economy, when we have no real flexibility to provide much more stimulus through monetary policy.

Equally unfortunately it is also happening at a time when we still have not managed to fully get rid of the large structural deficit on government spending, so even a significant loosening of fiscal policy isn't quite as straightforward as it normally would be.

I suspect there will have to be some "creative" policy suggestions over the coming months to address the developing situation

westernpromise

About 6.5 million people on the UK are trade union members. A levy of say £100 per member per year would produce £650 million a year in tax revenue and would also, as a helpful by product, reduce their numbers.

For critical services like the Tube the levy should be £1,000 per member per year. This will take the unions out of the picture altogether and put an end to Tube strikes.